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I had started a post last night but filed it away and went to the gym so
I could relax and think straight. After the Fed moved to lower rates, you
can imagine what happened to my account. Which is primarily short. So last
night I had to do some soul searching and think of a plan. The easiest
would of been to add more money and ride out the draw down. But I decided
against that. My plan this morning was to cover 100 shares of NWAC at the
open, but MU had the news that caused an opening delay. One of the Datek
Express servers was down, the one I use. So not a good 24 hours for me.
<P>Over all I didn't want to cover anything because all of them have pressure
on them to move lower and most of the short sellers who were going to cover
have covered. Also after the big run up on Thursday the hoopla was already
in the stocks, so why cover. The damage was done and these stocks are going
to move lower on profit taking. Personally I think this rally was a bit
of a fake. Why? Those global problems are still there and the easing of
rates gets lenders back to some sense of <U>normality</U>.
<P>As far as the Fed's actions I don't see it stimulating demand for goods.
Just demand for money. If you looked at an individuals preferences, the
marginal increment in disposable income is not going to change an individuals
utility to a higher level. SO this move up is short lived.
<P>Anyway I got caught by my shorts and had to pay the price.
<P>MU - I covered at 34 and it was as low as 32 today. I lost a little
over $369. I will bet you dollars to donuts it will drift below 30 1/2
next week. The only reason I covered was because of the news and my account
ratio was 46%. 40% is margin call.
<P>AMAT - On Thursday they were running out the door until the interest
rates news came out. It was only up 1/2 at the close today. It will move
lower next week.
<P>KEA - Sold off 1-1/16 for the day and I expect it to move lower as well
next week.
<P>NWAC - closed up 5/8 but well off it's high. I expect NWAC to move lower
next week as well.
<P>In closing, this was frustrating but also encouraging. I sat down and
added up what I booked this year so far. It was a little over $4,000. If
I am not mistaken, I started out with about $6,000 to $7,000 in my account
at the beginning of the year. So to only lose $360 out of this will be
fine by me. I am not happy nor am I out of the woods mind you, but I am
not overly bothered at this point. So for me this shows signs of improvements
in my trading psychology. Next week might be a different story. Also after
reviewing my expenses I will spend annually now about $1,250 / year to
be able to trade. This is due to my investing in life time internet connection
which is now paid for and will not see that expense until DSL comes along
in the future. So being able to have the expectations of being able to
continue to trade gives me piece of mind.
<P>Have a good weekend.
<P>Harley</HTML>
</x-html>From ???@??? Fri Oct 16 19:33:20 1998
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From: Bill Forman <wforman@xxxxxxxxx>
To: "'metastock@xxxxxxxxxxxxx'" <metastock@xxxxxxxxxxxxx>
Subject: RE: RT Advice
Date: Fri, 16 Oct 1998 15:12:30 -0600
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-----Original Message-----
From: angos [mailto:angos@xxxxxxxxxxxxxxx]
Sent: Friday, October 16, 1998 1:08 PM
To: metastock@xxxxxxxxxxxxx; geo@xxxxxxxxxxxxxxxxxxxx
Subject: RT Advice
Hi all:
I am interested in buying Metastock 6.51 RT program, but first of all
I have some questions
I would be very glad if any could answer:
1) Can MS RT be used without link to the data server?
2) Can I use it with no data server?
3) Can NO intraday data be seen in the MS RT ?
The fact is that I am getting Real Time data with another program that
is also able to:
a) Fill intraday data usable by Metastock
b) Display Charts when it is not linked just using the data stored
(the program is Life **SPANISH**)
So I have a data source, but the charting isnt as nice as the charting I
have seen
on the Metastock and I wanna use Metastock TR with the RT program as the
data source (and so without having the native MS Data collectors)
Thanks in advance: A pal from the other side of the
world
J.M. Angos Ullate
angos@xxxxxxxxxxxxxxx
PS- please answer to MY email address and not to the list because I dont
read it a lot
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